Estate agents act in their own interests, nobody else’s. They’re salespeople, so they can certainly talk the talk and do the arm-around-you chat, but at the end of the day they want to make a deal as quickly as possible and get their commission away. If that means shutting out new prospective purchasers once a negotiation is underway, they will, because ultimately they’re not interested in whether it’s the best deal for the seller.
They also have relationships with landlords and developers, and will prioritise them over one-time buyers. A lot of deals get done under the table with the agents receiving incentives in the form of higher percentages or other ‘gifts’, so they’ll push forward those buyers regardless of whether they’re the best option for the home owners.
Some larger agencies also encourage competition for commission between sales teams, so they’re not working co-operatively across their database of prospective purchasers, a system which definitely works against the interests of sellers.
At the end of the day, they’re just gatekeepers of the online marketing platforms, which is where the majority of the selling gets done, so the most crucial thing is to check whether their photographer is any good. At the very top end of the market you might get a more bespoke approach, but otherwise you’re basically paying a hefty percentage just to gain access the big property portals. It’s safe to assume that beyond posting your listing and waiting for the phone to ring, there’s not a great deal of effort being made on your behalf.
And you need to be very clear from the beginning that you wish to be informed of every expression of interest, no matter where you are in the process, which makes it more difficult for them to purposely keep you in the dark once there’s an offer on the table.